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Russian export restrictions on Armenia will affect sectors accounting for approximately 1-1.5% of the country's GDP, said Vazgen Poghosyan, head of the monetary policy department at the Central Bank of Armenia.
"The measures imposed by Russia cover sectors of Armenia's economy that make up roughly 1-1.5% of GDP. Looking at the sectoral impact, there are certainly some industries that will suffer, possibly even significantly. For example, fishing, certain segments of the food industry, and some agricultural sectors," Poghosyan said in an interview with Public Radio of Armenia.
According to him, exports of most of these products can be redirected to the domestic market, and the consequences for the Armenian economy may be moderate.
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BeforeEarlier
Russia imposed export restrictions on Armenia
Now
Russia imposed export restrictions on Armenia, affecting sectors that account for 1 1.5% of the country's GDP.
Next
Exports of most products are expected to be redirected to the domestic market, mitigating the impact.